Greg Abel, CEO of Berkshire Hathaway, speaks through the Berkshire Hathaway Annual Shareholders Assembly in Omaha, NE on Could 2, 2026.
CNBC
OMAHA, Nebraska — In his debut working Berkshire Hathaway‘s annual assembly, Greg Abel delivered what many shareholders got here to see: a gradual hand, a agency grasp of the sprawling conglomerate and simply sufficient of his personal model to reassure buyers the post-Warren Buffett period is on strong footing.
The critiques from longtime shareholders {and professional} buyers had been broadly optimistic, whilst many acknowledged the notable absence of Buffett, whose wit, storytelling and investing acumen have lengthy outlined the occasion.
“Very strong. No misspoke phrases. Thorough solutions,” mentioned Steve Examine, founding father of Examine Capital Administration. “Good man, however we certain do not have the laughs that we had with Warren and Charlie [Munger].”
“Greg and firm delivered on content material, examination of companies and confidence in outlook,” Macrae Sykes, a portfolio supervisor at Gabelli Funds.
David Kass, a finance professor at College of Maryland and a decades-long Berkshire shareholder, mentioned he grew extra assured in Berkshire after seeing firsthand Abel’s efficiency. He pointed to the agency’s “deep bench” — together with executives like vice chairman of Berkshire’s insurance coverage operations Ajit Jain; Adam Johnson, president of Berkshire’s shopper merchandise, service and retailing companies; and BNSF Railway CEO Katie Farmer — as proof that management continuity runs nicely past a single determine.
“Greg demonstrated the information of and keenness for working all of Berkshire’s companies,” Kass mentioned. “His essential focus is that of operations. Against this, Buffett focuses extra on the funding aspect of Berkshire.”
Granular insights
That shift in emphasis was evident all through the Q&A session, the place Abel leaned into detailed discussions of Berkshire’s subsidiaries, a degree of specificity that resonated with shareholders in search of reassurance about execution underneath new management.
“The solutions had been actually good as they gave granular insights,” mentioned Tilman Versch, a German shareholder and founding father of investor neighborhood Good Investing. “All people misses Warren. His clear, constant and humorous solutions are exhausting to exchange. However with extra follow, I hope Greg can discover his personal model.”
Abel opened the session with a close to hourlong presentation strolling buyers by the inside workings of Berkshire’s main companies. He drilled into efficiency and outlook throughout its railroad unit, vitality operations, insurance coverage arm and retail subsidiaries, providing a degree of operational element that shareholders mentioned felt extra akin to an investor day than the freewheeling, anecdote-driven format of previous conferences.
Greg Abel and Ajit Jain communicate through the Berkshire Hathaway Annual Shareholders Assembly in Omaha, NE on Could 2, 2026.
CNBC
Leaning into tech
Synthetic intelligence emerged as a central theme on the assembly. Abel mentioned Berkshire is already exploring AI-driven instruments to enhance operations at BNSF Railway, and spoke fluently about applied sciences like massive language fashions, emphasizing their potential to reinforce the corporate’s present companies.
He additionally pointed to the surge in knowledge heart improvement as a significant tailwind for Berkshire’s utility operations, with rising energy demand creating a big development alternative for its vitality grid property.
“He was clearly very snug with expertise and AI, versus Warren, who sometimes prevented technology-oriented investments outdoors of Apple and, extra lately, Google,” mentioned Adam Patti, chief govt of VistaShares and supervisor of an ETF monitoring Berkshire’s largest holdings. “Maybe that lends perception into how the portfolio might evolve over time.”
Buyback disappointment
Berkshire’s tempo of share repurchases was some extent of frustration for some shareholders.
The agency repurchased $235 million of inventory within the first quarter, in line with the earnings report. The corporate had already disclosed that it bought $226 million in inventory on March 4, so this implies it solely barely elevated its shopping for because the quarter got here to a detailed.
“The one lacking piece was any actual steering on further buybacks,” Patti mentioned. “I hoped that they might get extra aggressive about this.”
“I am disillusioned within the lack of serious buybacks,” Examine mentioned. “I assume they’re ready for a lower cost, however they purchased rather more at this valuation earlier than.”
The group should still be adjusting to a Berkshire assembly with out Buffett at heart stage. However after this primary outing, buyers seem more and more keen to offer Abel the room and time to outline the subsequent chapter on his personal phrases.
“They actually included extra of the companies than they ever have as a result of it used to at all times simply be Warren answering Warren questions,” mentioned Susan Chan, a longtime shareholder who alongside together with her pal Wanda Lee determined to skip the assembly this 12 months. They watched it from Chan’s residence in New Jersey as a substitute, and located that the brand new format instilled confidence in Berkshire’s future route. “And now, it is actually extra of a ‘Our shareholders are our household. And we will present you precisely what we’re invested in, and what we’re doing.'”
“We made the acutely aware choice to not go this 12 months,” Chan mentioned. “However we simply mentioned to one another, ‘Let’s go subsequent 12 months.'”
